monday.com (NASDAQ:MNDY) Trading Down 3.5% – Should You Sell?

Shares of monday.com Ltd. (NASDAQ:MNDY) were down 3.5% during mid-day trading on Thursday . The company traded as low as $89.47 and last traded at $90.73. 187,759 shares were traded during trading, a decline of 90% from the average daily volume of 1,883,866 shares. The stock had previously closed at $94.06.

Analyst Ratings Changes

MNDY has been the subject of several recent analyst reports. Capital One Financial lowered shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Monday, August 10th. Wells Fargo & Company decreased their price objective on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and issued a $105.00 target price on shares of monday.com in a research report on Monday, August 10th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 target price on shares of monday.com in a research note on Monday, August 10th. Finally, UBS Group upped their price target on shares of monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Trading Down 5.7%

The business has a fifty day simple moving average of $88.12 and a two-hundred day simple moving average of $78.96. The company has a market cap of $4.36 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Equities analysts expect that monday.com Ltd. will post 2.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MNDY. Capital World Investors boosted its holdings in shares of monday.com by 91.4% during the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after purchasing an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC lifted its position in monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after buying an additional 1,052,900 shares in the last quarter. Norges Bank purchased a new position in monday.com during the fourth quarter worth approximately $79,789,000. Geode Capital Management LLC boosted its stake in monday.com by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 438,076 shares of the company’s stock worth $64,295,000 after buying an additional 42,655 shares during the last quarter. Finally, Ibex Investors LLC boosted its stake in monday.com by 56.7% during the fourth quarter. Ibex Investors LLC now owns 282,000 shares of the company’s stock worth $41,612,000 after buying an additional 102,000 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

About monday.com

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.